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Bitcoin (BTC)
$ 97,628.90 1,847.85 (% 1.93)
Ethereum (ETH)
$ 2,728.04 125.82 (% 4.83)
XRP (XRP)
$ 2.465250 0.052535 (% 2.18)
Binance Coin (BNB)
$ 698.20 56.08 (% 8.73)
Tether (USDT)
$ 1.00 0 (% 0.02)
Litecoin (LTC)
$ 121.74 2.46 (% 2.06)
Cardano (ADA)
$ 0.792573 0.014325 (% 1.84)
TRON
$ 0.243201 0.002103 (% 0.87)
Stellar (XLM)
$ 0.33102 0.01296 (% 4.08)
Ethereum Classic (ETC)
$ 21.318003 1.075829 (% 5.31)
EOS (EOS)
$ 0.66 0.03 (% 5.59)
Bitcoin Cash (BCH)
$ 342.42 11.11 (% 3.35)
Cosmos (ATOM)
$ 5.04 0.33 (% 7.11)
NEO (NEO)
$ 11.56 0.67 (% 6.15)
Holo (HOLO)
$ 0.003539 0.000008 (% 0.23)
Tezos (XTZ)
$ 0.913095 0.048943 (% 5.66)
Dash (DASH)
$ 27.83 0.90 (% 3.34)
Basic Attention Token (BAT)
$ 0.190863 0.012655 (% 7.10)

After BTC Hits All-Time High, Bitcoin ETF Volumes Also Peak

The 10-fund segment saw trade volumes amounting to roughly $9.5 billion on Tuesday — beating the record set on Feb. 28

After BTC Hits All-Time High, Bitcoin ETF Volumes Also Peak

Trading volumes for the US spot bitcoin ETFs reached a new daily high just hours after BTC hit a record price of about $69,000.

The 10-fund segment’s volumes totaled roughly $9.5 billion on Tuesday, according to Yahoo Finance data — eclipsing the previous record of about $7.6 billion set on Feb. 28.

BlackRock’s iShares Bitcoin Trust (IBIT) led the way on volumes once again, with $3.7 billion worth of the fund’s shares trading on the day. 

Volumes for the Grayscale Bitcoin Trust ETF (GBTC) and the Fidelity Wise Origin Bitcoin Fund (FBTC) followed with $2.8 billion and $2 billion, respectively.

“Volatility and volume go hand in hand with ETFs so not totally surprised,” Bloomberg Intelligence analyst Eric Balchunas said in an X post. “That said, these are bananas numbers for ETFs under [two months] old.”

Demand for the US spot bitcoin ETFs has surged in recent weeks as BTC price marched to an all-time high Tuesday. The Securities and Exchange Commission approved the offerings in January after years of blocking such funds — unlocking easier access to bitcoin exposure for a wider set of investors. 

The asset rose to above $69,000 at about 10 am ET. The price of bitcoin (BTC) stood at about $62,000 at 4 pm ET — down about 10% from its apex.

The 10 bitcoin funds have seen roughly $8 billion of net inflows since launching on Jan. 11, according to BitMEX research data — a total coming despite higher-priced GBTC’s nearly $9.3 billion of net outflows.

Roughly $1.6 billion of the segment’s positive flows came last week, during which the category’s trade volumes hit a record $22 billion.

 

Source: blockworks.co